Dow Plunges Nearly 6 Percent in the Last Week

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mattbbpl

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#1 mattbbpl
Member since 2006 • 17543 Posts

The Dow has fallen about 5.5 percent since Wednesday due to the escalating trade war. Do you care? Do you care but believe it's a worthy sacrifice in the trade war?

I ask because some Trump supporters famously supported him to thumb their noses at the elites and the members of the establishment, and I can't think of a better way to do so than to hit their capital gains. Is this in line with that goal?

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#2 burntbyhellfire
Member since 2019 • 456 Posts

why do you care? its just evil rich people anyway, right? pretending to give a damn because you think you have a "gotcha" is funny, especially when it'll rebound anyway as it typically does

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#3  Edited By warmblur
Member since 2017 • 3231 Posts

Trump is just playing 3D chess he's a stable genius don't forget it. Fox news told me they never lie if you don't love Trump you hate America and you are a Socialist!!! also Reagan is God.

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#4  Edited By BaelNergal
Member since 2019 • 570 Posts

So what? The DOW had a worse plunge than that because Europe got slightly worried over its economy. Hell, the current PM of the UK could probably sneeze hard and cause the DOW to lose 1000 points.

The DOW tends to plunge at the drop of a hat. I don't even see why this is newsworthy anymore.

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#5 watercrack445
Member since 2017 • 2002 Posts

Probably good for China for long-term since China is chipping away its exports from America. Which means less reliance on America. Which means more political clout for China.

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#6 phbz
Member since 2009 • 4721 Posts

Looking at the yearly graph, as we stand, the trend is still positive.

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#7 mikecrci
Member since 2017 • 50 Posts

Go China!

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#8 HoolaHoopMan
Member since 2009 • 11011 Posts

I'm thinking that most of the 'elites' are probably against a lot of the tariffs. It's probably your average Joe that has a higher chance of supporting them. The economy is the only thing going for Trump and he's playing a game of chicken right now. I'm guessing the Chinese are more than willing to hold out longer, at least until election time, to have these tariffs lower GDP and increase costs on all our goods to Americans.

They don't have to worry about reoccurring election cycles like we do where citizens have the ability to remove those in power.

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#9  Edited By HoolaHoopMan
Member since 2009 • 11011 Posts

@baelnergal said:

The DOW tends to plunge at the drop of a hat. I don't even see why this is newsworthy anymore.

Dips and plunges certainly aren't a great thing in the financial world. Just because they're not 'newsworthy' anymore doesn't mean they aren't important.

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N64DD

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#10 N64DD
Member since 2015 • 12028 Posts

Lol thread backdlfire

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#11  Edited By HoolaHoopMan
Member since 2009 • 11011 Posts

The US just labeled China a currency manipulator and they suspended all agricultural products. This will probably drag on past what we've seen.

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#12 BaelNergal
Member since 2019 • 570 Posts

@HoolaHoopMan said:
@baelnergal said:

The DOW tends to plunge at the drop of a hat. I don't even see why this is newsworthy anymore.

Dips and plunges certainly aren't a great thing in the financial world. Just because they're not 'newsworhty' anymore doesn't mean they aren't important.

This is the DOW, though. It suffers record-setting plunges based on pure speculation on a regular basis, and still manages to have those plunges have zero long-term effect. So, yes, in this particular case I don't see how it is important.

What Trump had for breakfast is probably both more newsworthy and more likely to impact the nation.

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#13 HoolaHoopMan
Member since 2009 • 11011 Posts

@baelnergal said:
@HoolaHoopMan said:
@baelnergal said:

The DOW tends to plunge at the drop of a hat. I don't even see why this is newsworthy anymore.

Dips and plunges certainly aren't a great thing in the financial world. Just because they're not 'newsworhty' anymore doesn't mean they aren't important.

This is the DOW, though. It suffers record-setting plunges based on pure speculation on a regular basis, and still manages to have those plunges have zero long-term effect. So, yes, in this particular case I don't see how it is important.

What Trump had for breakfast is probably both more newsworthy and more likely to impact the nation.

If we're talking about indexes in general, even short term behavior can change the way companies invest and plan for the future. S&P 500, NASDAQ, Russell, EUROSTOXX, etc, they are all going to follow the same dips and dives. Matt mentioned only the DOW but the same patterns usually follow other funds/indexes as well. There's a reason why the short and long term treasury rates are inverted right now. Investors are wary of the political climate.

Financial companies purposely design products that fit different needs for people and those include shorter term investments. I've personally seen my own company retire entire product lines due to large market and index shocks (historically researched patterns). If the market changes in a manner where huge dips/dives are more common it will inevitably shift behavior in investment and product development for financial institutions.

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#14  Edited By mattbbpl
Member since 2006 • 17543 Posts

@n64dd: how so?

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#15 mattbbpl
Member since 2006 • 17543 Posts

@HoolaHoopMan said:

I'm thinking that most of the 'elites' are probably against a lot of the tariffs. It's probably your average Joe that has a higher chance of supporting them. The economy is the only thing going for Trump and he's playing a game of chicken right now. I'm guessing the Chinese are more than willing to hold out longer, at least until election time, to have these tariffs lower GDP and increase costs on all our goods to Americans.

They don't have to worry about reoccurring election cycles like we do where citizens have the ability to remove those in power.

Regarding the bolded, that's absolutely true.

In a vacuum (ie - looking only at stock prices), I'm not sure why I should personally care about the fall. Frankly, it helps my personal situation at this time as long as it doesn't bleed into the overall economy (and I ignore the fact that the tariffs themselves will have an outsized effect on my rural area).

This might be an area where I can collectively shrug my shoulders with the Trump supporters, albeit for different reasons. I don't much care to cut off my nose to spite my face, but the discount on stocks that I won't need to cash in on for another 30 years is welcome when viewed in that vacuum.

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#16 burntbyhellfire
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@watercrack445 said:

Probably good for China for long-term since China is chipping away its exports from America. Which means less reliance on America. Which means more political clout for China.

not really, historically and currently the chinese import a lot of junk to the united states while importing next to none of our own.. trade with china has always been one sided so it's certainly going to hurt china a hell of a lot more than the US, and with emerging markets in other countries in asia, also india, brazil, etc, we dont need them for cheap crap as much as we used to

so no, this isnt good for china, not in the short term and not in the long term

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#17  Edited By comp_atkins
Member since 2005 • 35939 Posts

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president is a fucking nitwit

thanks, trump

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#18 burntbyhellfire
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@comp_atkins said:

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president if a fucking nitwit

thanks, trump

suuuuuuuure you did

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#19 Zaryia  Online
Member since 2016 • 9992 Posts
@burntbyhellfire said:
@comp_atkins said:

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president if a fucking nitwit

thanks, trump

suuuuuuuure you did

Whats with all the vindictive 4chan style posts.

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#20 comp_atkins
Member since 2005 • 35939 Posts
@burntbyhellfire said:
@comp_atkins said:

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president if a fucking nitwit

thanks, trump

suuuuuuuure you did

what proof would you need?

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#21 rmpumper
Member since 2016 • 708 Posts

And I hear I was ready to sell my meager stock a week ago, but thought, **** it, nothing is going to happen, it's just gonna keep on going up, so better wait a bit longer. A few days later, all the gains went to shit.

Anyway, Agent Orange can't afford to keep this going if he wants to win 2020 so he might play this game a a couple months longer but will be forced to bend over to China eventually.

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#22 burntbyhellfire
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@rmpumper said:

And I hear I was ready to sell my meager stock a week ago, but thought, **** it, nothing is going to happen, it's just gonna keep on going up, so better wait a bit longer. A few days later, all the gains went to shit.

Anyway, Agent Orange can't afford to keep this going if he wants to win 2020 so he might play this game a a couple months longer but will be forced to bend over to China eventually.

theres nobody to stop him from winning 2020, so he doesnt have to cater to your poor investment decisions to win another term

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#23 rmpumper
Member since 2016 • 708 Posts

@burntbyhellfire: but she sure as **** has to cater to his billionaire donors.

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#24 burntbyhellfire
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@rmpumper said:

@burntbyhellfire: but she sure as **** has to cater to his billionaire donors.

who trump? and who might those donors be?

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#25 rmpumper
Member since 2016 • 708 Posts

@burntbyhellfire: Playing the idiot, eh?

https://www.investopedia.com/articles/investing/033116/top-10-corporate-contributors-trump-campaign.asp

You know, the same 1 percenters who got the tax cuts and used the money for their stock buybacks and now are losing money (assuming that they did not get a notice from Trump pre-tweet to sell off in time).

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#26  Edited By burntbyhellfire
Member since 2019 • 456 Posts

i'd accuse you of playing stupid, but i do not think you're playing

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#27 Solaryellow
Member since 2013 • 5209 Posts

@burntbyhellfire said:

suuuuuuuure you did

When it comes to conversation and sword fighting on the net, just remember: Believe half of what you see and none of what you hear.

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#28 comp_atkins
Member since 2005 • 35939 Posts
@Solaryellow said:
@burntbyhellfire said:

suuuuuuuure you did

When it comes to conversation and sword fighting on the net, just remember: Believe half of what you see and none of what you hear.

i asked him what proof he required.

*crickets*

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#29 burntbyhellfire
Member since 2019 • 456 Posts

@Solaryellow said:
@burntbyhellfire said:

suuuuuuuure you did

When it comes to conversation and sword fighting on the net, just remember: Believe half of what you see and none of what you hear.

yeah, definitely.. especially when someone claims to be an investor and doesnt understand the basic reality that the market fluctuates.. like the one guy.. "omg, i thought my stocks would keep going up".. right, thats like sitting down at the poker table and expecting to win every hand... or the guy who doesnt realize we've had a couple other similar dips in the last year alone, with equivalent rebounds

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#30 comp_atkins
Member since 2005 • 35939 Posts
@burntbyhellfire said:
@Solaryellow said:
@burntbyhellfire said:

suuuuuuuure you did

When it comes to conversation and sword fighting on the net, just remember: Believe half of what you see and none of what you hear.

yeah, definitely.. especially when someone claims to be an investor and doesnt understand the basic reality that the market fluctuates.. like the one guy.. "omg, i thought my stocks would keep going up".. right, thats like sitting down at the poker table and expecting to win every hand... or the guy who doesnt realize we've had a couple other similar dips in the last year alone, with equivalent rebounds

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#32  Edited By Vaasman
Member since 2008 • 13976 Posts

@KungfuKitten said:

The 2008 financial crisis was profitable for some people. Could they be interested in making it happen again?

When you're rich and your main concern is getting richer, you want cycles of growth and depression, not stability or steadier, healthier growth. You can buy into everything when it's cheap from a crash, and then rake in the profits and power when it recovers. If it gets a little too dicey, you can always ask for the usual government bailout.

It's extremely toxic to growth and equality, but hey, that's what happens when you don't regulate late-stage capitalism.

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#33 KungfuKitten
Member since 2006 • 26857 Posts
@Vaasman said:
@KungfuKitten said:

The 2008 financial crisis was profitable for some people. Could they be interested in making it happen again?

When you're rich and your main concern is getting richer, you want cycles of growth and depression, not stability or steadier, healthier growth. You can buy into everything when it's cheap from a crash, and then rake in the profits and power when it recovers. If it gets a little too dicey, you can always ask for the usual government bailout.

It's extremely toxic to growth and equality, but hey, that's what happens when you don't regulate late-stage capitalism.

Huh... I didn't expect to agree wholeheartedly on a topic like that with you.

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#34 Xabiss
Member since 2012 • 2944 Posts
@burntbyhellfire said:
@Solaryellow said:
@burntbyhellfire said:

suuuuuuuure you did

When it comes to conversation and sword fighting on the net, just remember: Believe half of what you see and none of what you hear.

yeah, definitely.. especially when someone claims to be an investor and doesnt understand the basic reality that the market fluctuates.. like the one guy.. "omg, i thought my stocks would keep going up".. right, thats like sitting down at the poker table and expecting to win every hand... or the guy who doesnt realize we've had a couple other similar dips in the last year alone, with equivalent rebounds

I will say this.... I always find it funny any time the market falls people point at Trump, but when the market rises those same people say it isn't because of Trump. I am so confused. :P

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#35  Edited By Chutebox
Member since 2007 • 44798 Posts

And it will rebound zzzzzz

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#36 Solaryellow
Member since 2013 • 5209 Posts

@Xabiss said:
@burntbyhellfire said:

yeah, definitely.. especially when someone claims to be an investor and doesnt understand the basic reality that the market fluctuates.. like the one guy.. "omg, i thought my stocks would keep going up".. right, thats like sitting down at the poker table and expecting to win every hand... or the guy who doesnt realize we've had a couple other similar dips in the last year alone, with equivalent rebounds

I will say this.... I always find it funny any time the market falls people point at Trump, but when the market rises those same people say it isn't because of Trump. I am so confused. :P

Humans are fickle. No blame will come to something they like but if it is something they dislike or hate, all the blame is somehow warranted.

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#37 comp_atkins
Member since 2005 • 35939 Posts
@Solaryellow said:
@Xabiss said:
@burntbyhellfire said:

yeah, definitely.. especially when someone claims to be an investor and doesnt understand the basic reality that the market fluctuates.. like the one guy.. "omg, i thought my stocks would keep going up".. right, thats like sitting down at the poker table and expecting to win every hand... or the guy who doesnt realize we've had a couple other similar dips in the last year alone, with equivalent rebounds

I will say this.... I always find it funny any time the market falls people point at Trump, but when the market rises those same people say it isn't because of Trump. I am so confused. :P

Humans are fickle. No blame will come to something they like but if it is something they dislike or hate, all the blame is somehow warranted.

lol this circle jerk of stupidity.

you can literally pinpoint the moment trump's tweet went public last friday relative to market performance.

if nothing else, markets crave predictability and trump offers the opposite. market performance over the past 20 months is effectively flat since the inception of tariff man's antics. wild swings of uncertainty are the norm because nobody knows what this water-head is going to do next.

looks at the volatility spikes (vix) over the past 2 years when compared to the relatively mild ( and notably well performing ) 2017.

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#38 comp_atkins
Member since 2005 • 35939 Posts
@HoolaHoopMan said:

The US just labeled China a currency manipulator and they suspended all agricultural products. This will probably drag on past what we've seen.

which is strange because the latest drop in the yuan ( making trump's tariffs less effective by decreasing the cost of chinese exports ) occurred because china did NOT interfere.

https://www.vox.com/2019/8/6/20756215/trump-china-currency-manipulator-trade-war

https://www.piie.com/blogs/trade-investment-policy-watch/china-no-longer-manipulating-its-currency

in this case they're manipulators by NOT manipulating their currency...

confusing world we live in these days.

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#39  Edited By HoolaHoopMan
Member since 2009 • 11011 Posts

@comp_atkins said:

lol this circle jerk of stupidity.

you can literally pinpoint the moment trump's tweet went public last friday relative to market performance.

if nothing else, markets crave predictability and trump offers the opposite. market performance over the past 20 months is effectively flat since the inception of tariff man's antics. wild swings of uncertainty are the norm because nobody knows what this water-head is going to do next.

looks at the volatility spikes (vix) over the past 2 years when compared to the relatively mild ( and notably well performing ) 2017.

This is exactly what these goons don't get. Predictability is good since it offers better forecasting. The market is ultimately tied to human feelings. If we're scared of putting our money somewhere it will shift the economy. Volatility can have a huge impact.

Look at most of these indexes over the last year and a half. They're regaining a lot of losses due to the trade spat. Hell, the Russell 2000 lost 30% last year and the S&P/NASDAQ 100 didn't fair well either.

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#40 sonicare
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@comp_atkins said:

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president is a fucking nitwit

thanks, trump

I don't know what the market will do in the next 2-4 years, but i know it will be higher 15 years from now. People focus way too much on the daily values of the Dow and s/p. Remember how much it was down in december of last year?

I just buy index funds and try to spread out when i purchase the market. I dont even watch the daily values.

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#41 comp_atkins
Member since 2005 • 35939 Posts
@sonicare said:
@comp_atkins said:

getting really fucking tired of having mid to high 5 digit holes blown in my worth every time this fucking twat of a president tweets something...

months of gains evaporated in 3 days because our president is a fucking nitwit

thanks, trump

I don't know what the market will do in the next 2-4 years, but i know it will be higher 15 years from now. People focus way too much on the daily values of the Dow and s/p. Remember how much it was down in december of last year?

I just buy index funds and try to spread out when i purchase the market. I dont even watch the daily values.

agree. remember how much it was up in september of last year? just wait out this president until we can return to something resembling normalcy.

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#42 PimpHand_Gamer
Member since 2014 • 2881 Posts

OMG No!!! We've never seen the Dow drop before...PANIC!!!